BULX vs. FBL
BULX (GraniteShares 2x Long BULL Daily ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. At a 0.25 correlation, their price movements are largely independent. BULX charges 1.50%/yr vs 1.15%/yr for FBL.
Performance
BULX vs. FBL - Performance Comparison
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Returns By Period
In the year-to-date period, BULX achieves a -58.20% return, which is significantly lower than FBL's -31.68% return.
BULX
- 1D
- 0.00%
- 1M
- -8.80%
- 6M
- -62.12%
- YTD
- -58.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBL
- 1D
- -9.90%
- 1M
- -14.90%
- 6M
- -29.72%
- YTD
- -31.68%
- 1Y
- -47.61%
- 3Y*
- 23.43%
- 5Y*
- —
- 10Y*
- —
BULX vs. FBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BULX GraniteShares 2x Long BULL Daily ETF | -58.20% | -71.71% |
FBL GraniteShares 2x Long META Daily ETF | -31.68% | -24.31% |
Correlation
The correlation between BULX and FBL is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 3, 2025 | 0.25 |
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Return for Risk
BULX vs. FBL — Risk / Return Rank
BULX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FBL
BULX vs. FBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BULL Daily ETF (BULX) and GraniteShares 2x Long META Daily ETF (FBL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BULX | FBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.91 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.77 | — |
| Martin ratioReturn relative to average drawdown | — | -1.29 | — |
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Drawdowns
BULX vs. FBL - Drawdown Comparison
The maximum BULX drawdown since its inception was -93.25%, which is greater than FBL's maximum drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for BULX and FBL.
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Drawdown Indicators
| BULX | FBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.25% | -61.15% | -32.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.03% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -61.15% | — |
Current DrawdownCurrent decline from peak | -90.87% | -55.72% | -35.15% |
Average DrawdownAverage peak-to-trough decline | -70.61% | -17.28% | -53.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 36.31% | — |
Volatility
BULX vs. FBL - Volatility Comparison
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Volatility by Period
| BULX | FBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 31.36% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 59.61% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 109.18% | 75.00% | +34.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.18% | 72.00% | +37.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.18% | 72.00% | +37.18% |
BULX vs. FBL - Expense Ratio Comparison
BULX has a 1.50% expense ratio, which is higher than FBL's 1.15% expense ratio.
Dividends
BULX vs. FBL - Dividend Comparison
BULX has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 3.04%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BULX GraniteShares 2x Long BULL Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
FBL GraniteShares 2x Long META Daily ETF | 3.04% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
BULX and FBL have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBL is cheaper at 1.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBL is cheaper with a 1.15% expense ratio, compared with 1.50% for BULX.
FBL has the higher dividend yield at 3.04%, compared with 0.00% for BULX.
Their fees differ too: 1.50% for BULX and 1.15% for FBL.
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